Page 57 - Southlake FY22 Budget

BUDGET OVErVIEW

GUIDE TO THE BUDGET DOCUMEnT

BUDGET 101

A former world leader once said, “It’s clearly a budget. It has a lot of
numbers in it.” And while that’s a true statement about this budget
document, it should be noted that each of these numbers has purpose
and meaning behind it. The annual budget serves as a policy document,
a financial plan, an operations guide, and a communications device
for the City. It is the foundation for the City’s allocation of resources
toward high quality service delivery plans, targeted investments, and
continued improvements. It also encapsulates incremental changes
addressing service requirements and builds upon initiatives funded in
prior years, while establishing new direction for programs.

This section explains the meaning behind the numbers which are
presented in subsequent chapters. It gives perspective to the City’s
budgeting process, basis of budgeting and accounting, how the budget
is amended, and the fund accounting system. All of these components,
combined with the City’s Strategic Management System make up the
primary foundation for every City of Southlake budget document.

BUDGET SECTIOnS
The Budget Document is arranged in 17 sections that are separated by their respective tabs. Below is a brief description
of the materials found in each of the sections.

• Transmittal Letter - The Transmittal Letter is written to the City Council by the City Manager and provides a high-
level preview of the City Manager’s adopted budget. It contains information including the adopted tax rate and
adopted fund summaries as well as overviews of the departmental plans. The letter helps tie together the core
elements which make up the adopted budget and illustrates how those elements further the City’s goals found
within the Strategic Management System.
• Budget Overview - This section helps explain the meaning behind the numbers presented in subsequent chapters.
It gives perspective to the City’s budgeting process, basis of budgeting, fund accounting system, and an explanation
of factors included in budget development.
• City Profile - This section of the budget document offers a quick, effective visual of the City’s financial condition.
We believe the ability to monitor and evaluate the financial condition of a local government is critical to that
government’s successful, prosperous future. Recognizing that trends can provide early warning signals, staff
regularly monitors numerous financial indicators. A list of Council members, an organizational chart, location and
a history of the City is also provided in the City Profile.
• Strategic Direction - This section provides information about the City’s Strategic Management System. Several
years ago the City adopted the SMS, which drives the way the City conducts its business. The department directors
contribute to the SMS by developing a department business plan and aligning their yearly budget proposals to
that plan.
• City Department Overview - This section provides an overview of the various departments and divisions of the
City via department highlights, strategy maps, scorecards and goals. This section is intended to give the reader
an understanding of the core services each department provides as well as performance data related to those
services.

56 FY 2022 City of Southlake | BUDGET BOOK
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